The goal of our proposal was to use a hybrid multi-annulus planetesimal/n-body code to examine the planetesimal theory, one of the two main theories of planet formation. We developed this code to follow the evolution of numerous 1 m to 1 km planetesimals as they collide, merge, and grow into full-fledged planets. Our goal was to apply the code to several well-posed, topical problems in planet formation and to derive observational consequences of the models. We planned to construct detailed models to address two fundamental issues: 1) icy planets - models for icy planet formation will demonstrate how the physical properties of debris disks, including the Kuiper Belt in our solar system, depend on initial conditions and input physics; and 2) terrestrial planets - calculations following the evolution of 1-10 km planetesimals into Earth-mass planets and rings of dust will provide a better understanding of how terrestrial planets form and interact with their environment. During the past year, we made progress on each issue. Papers published in 2004 are summarized. Summaries of work to be completed during the first half of 2005 and work planned for the second half of 2005 are included.